E-mail security co Commtouch signs 9 new contracts
Commtouch CEO Gideon Mantel: We’ve already achieved our full-year target of 30 OEM deals.
Adi Ben-Israel 8 Oct 07 18:01
Commtouch Software Ltd. (Nasdaq: CTCH) licensed its e-mail defense technology to nine new companies during the third quarter of 2007, bringing the total number of OEM partners to 82. The company did not disclose the amounts of the contracts.
Commtouch CEO Gideon Mantel said, "The third quarter was another strong quarter in terms of new partners signed, continuing our earlier momentum. One of our objectives for 2007 was to sign 30 OEM deals, and we have nearly achieved this target already at the end of third quarter. These new agreements, together with our existing partner base, are laying the foundation for our future growth in 2008."
Commtouch signed 19 OEM contracts during the first half of 2007. The company posted $2.6 million revenue for the second quarter, up 54% on the corresponding quarter of 2006, and posted a profit of $483,000 compared with a loss of $114,000 for the corresponding quarter. The share closed at $2 on Friday, giving a market cap of $148 million.
Published by Globes [online], Israel business news - www.globes.co.il - on October 8, 2007
